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PARADOX OF THRIFT: The notion that an increase in saving, which is prudent for an individual during bad economic times, is not the best course of action for the macroeconomy. If total saving in the economy increases, then consumption and aggregate expenditures decline, which causes a decline in aggregate output.
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MARGINAL COST CURVE A curve that graphically represents the relation between the marginal cost incurred by a firm in the short-run product of a good or service and the quantity of output produced. This curve is constructed to capture the relation between marginal cost and the level of output, holding other variables like technology and resource prices constant. Three related curves are average total cost curve, average variable cost curve, and average fixed cost curve.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites hoping to buy either a desktop calendar with all federal and state holidays highlighted or a half-dozen helium filled balloons. Be on the lookout for crowded shopping malls.
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This isn't me! What am I?
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Natural gas has no odor. The smell is added artificially so that leaks can be detected.
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"I was always looking outside myself for strength and confidence, but it comes from within. It is there all the time. " -- Anna Freud, psychologist
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G10
Group of Ten
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